Finance

​Battery storage participation in the Balancing Mechanism has “increased massively” while a hybrid approach to trading that sees assets dipping in and out of Dynamic Containment is becoming more common.

​Electric vehicle (EV) charging firm Bonnet has secured US$5.5 million (£4 million) in new investment as the company looks to expand its coverage to the majority of UK and European chargers by the end of 2022.

​The Public Accounts Committee has said that the government has “no clear plan” for how the transition to net zero will be funded, nor a reliable estimate of what net zero will cost consumers, businesses or the government itself.

Electric vehicle (EV) charging software firm ev.energy has extended its Series A financing round to US$12.8 million (£9.6 million), with this led by AcTern Ventures.

The EQT Infrastructure V fund is to acquire rapid electric vehicle (EV) charging firm InstaVolt from Zouk Capital, marking the latest EV charging network to change hands.

Zenobē Energy has established a multi-source debt structure of £241 million to fund capital investment into e-buses and charging infrastructure.

​Electricity output from renewable sources in which SSE has an ownership interest was 1.4TWh - or 19% - below plan in the latter nine months of 2021.

Investors are now becoming more comfortable with battery storage, with projects being profitable and cost-effective, according to industry experts.